Utah Admin. Code R590-238-14 - Conflict of Interest
(1)
(a) A company shall adopt a conflict of
interest statement for its directors, managers, and key employees.
(b) The conflict of interest statement shall
disclose that the individual has no outside commitments, personal or otherwise,
that would divert the individual from the individual's duty to further the
interests of the company.
(c) The
conflict of interest statement does not preclude an individual from being an
officer, director, or manager in more than one insurance company.
(2) Each officer, director,
manager, and key employee shall file a yearly disclosure with the board of
directors.
Notes
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